Strategies and tactics for growing a family-owned real estate business
The strategy of growing a family-owned real estate business involves expanding the property portfolio by researching emerging markets and identifying properties with high ROI potential. For instance, building partnerships with local real estate agents and using property listing platforms can help scout for lucrative deals. Setting a solid budget and attending auctions will also aid in acquiring new properties. Moreover, consulting with financial advisors ensures intelligent investment decisions.
Enhancing marketing and branding is another key strategy, including rebranding with a modern logo and creating a user-friendly website. Leveraging social media for advertising and engaging in content marketing through blogs and videos can improve visibility. Additionally, establishing a referral program and using analytics tools will boost marketing effectiveness.
Improving client relations and customer service is achieved by implementing a CRM system and training staff. Encouraging client loyalty through a feedback loop and personalized recommendations ensures client satisfaction. Regular updates on market trends and hosting exclusive events for top clients further strengthen client relationships.
The strategies
⛳️ Strategy 1: Expand your property portfolio
- Research emerging markets to invest in
- Identify types of properties with high ROI potential
- Establish partnerships with local real estate agents
- Utilise property listing platforms to scout for deals
- Set up a budget for new property acquisitions
- Attend real estate auctions and networking events
- Consult with financial advisors on best investment strategies
- Analyse historical data on property value trends
- Develop a risk assessment process for property acquisitions
- Negotiate favourable terms with sellers
⛳️ Strategy 2: Enhance marketing and branding
- Rebrand the business with a modern logo and tagline
- Create a user-friendly and informative website
- Utilise social media platforms for targeted advertising
- Develop a content marketing strategy with blog posts and videos
- Engage with local communities through sponsored events
- Establish a referral program to encourage word-of-mouth
- Collaborate with local businesses for cross-promotions
- Use analytics tools to track marketing campaign effectiveness
- Offer virtual property tours and open house events
- Create an email newsletter for property updates and insights
⛳️ Strategy 3: Improve client relations and customer service
- Implement a CRM system for managing client interactions
- Train staff on customer service best practices
- Develop a feedback loop to continuously improve client satisfaction
- Initiate a loyalty program for repeat clients
- Respond promptly to client inquiries and requests
- Offer personalised property recommendations based on client needs
- Create a client resource centre with buying and selling guides
- Regularly update clients on market trends and property news
- Host exclusive events for top clients to strengthen relationships
- Incorporate client testimonials and success stories in promotional materials
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
